5 billion USD ETH queued for withdrawal! Ethereum staking sees the 'largest exit wave'

As of August 27, the number of ETH waiting to be processed in the Ethereum staking withdrawal queue has reached 285,000, approximately 5 billion USD, an increase of 65% compared to a week ago, setting a new high since the 2023 merge.

Glassnode data shows that in the past seven days, the staking pool has seen a net outflow for five consecutive days, with an average of over 30,000 ETH applications for withdrawal per day.

【Why is there a queue for withdrawals?】

Partial withdrawal (interest only): credited in real-time

Full withdrawal (principal + earnings): requires queuing, subject to a daily limit of 61,000 ETH

The current withdrawal volume is more than four times the daily limit, so users must wait at least 4 days.

【Three main reasons for withdrawal】

Taking profits: early stakers choose to take profits after a price correction

Decreased returns: annualized staking yield has dropped from 5.2% to 3.8%

Regulatory tightening: compliance requirements in Europe and the US have increased, leading to the suspension of some services

【Is the selling pressure controllable?】

60% of the withdrawn funds have not entered exchanges, or are merely switching staking platforms

Institutions are still accumulating (Grayscale increased by 12,000 this week)

Key technical support level at 1700 USD

【Investor advice】

Long-term holders do not need to blindly follow the withdrawals

Choose compliant staking service providers

Pay attention to potential improvements from the Cancun upgrade in November